Question

ou invested 7000 between two accounts paying 4% and 9% annual​ interest, respectively. If the total interest earned for the year was $430 how much was invested at each​ rate? ​$ nothing was invested at and ​$ nothing was invested at

Answer 1

9514 1404 393

Answer:

• $3000 at 9%
• $4000 at 4%

Explanation:

Let x represent the amount invested at 9%. Then 7000-x was invested at 4% and the interest earned was ...

9%·x +4%(7000-x) = 430

5%·x +280 = 430 . . . . . . . . . simplify

0.05x = 150 . . . . . . . . . . . subtract 280

x = 3000 . . . . . . . . . . divide by 0.05

$3000 was invested at 9%; $4000 was invested at 4%.